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Zhejiang Guyuelongshan Shaoxing Wine Q1 profit climbs YOY

Zhejiang Guyuelongshan Shaoxing Wine Co. Ltd. said its first-quarter normalized net income amounted to 6 fen per share, a gain from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 46.6 million yuan, a gain from 45.3 million yuan in the year-earlier period.

The normalized profit margin fell to 9.5% from 9.6% in the year-earlier period.

Total revenue climbed on an annual basis to 488.5 million yuan from 469.9 million yuan, and total operating expenses increased 6.3% from the prior-year period to 414.2 million yuan from 389.8 million yuan.

Reported net income rose year over year to 55.9 million yuan, or 7 fen per share, from 54.8 million yuan, or 7 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.